The Dominican government reported last night that the proposed budget for fiscal year 2023which must be presented to the National Congress, amounts to the total amount of income of one billion thirty-three billion pesos.
The details were offered by the Administrative Minister of the Presidency, José Ignacio Paliza, and the Minister of Finance, José Manuel (Jochi) Vicente, after a Council of Ministers headed by Vice President Raquel Peña.
“As you all know, President Abinader has been leading a well-known agenda of projects, works and emblematic development efforts throughout the national territory and in this budget for next year many of them are contemplated to be completed”, expressed Paliza at the end of the meeting at the National Palace, behind closed doors, for an hour.
The official cited among these works the monorail in Santiago and the extension lines of the Santo Domingo Metro to Los Alcarrizos.
He indicated that the draft Budget and General Law of Public Expenditures of 2023 contemplates the “usual investment” of 4% for Education.
The Minister of Finance, Jochy Vicente, explained that the budget project has scheduled more than RD$135,000 million to help mitigate inflation and maintain the different subsidies, especially for social protection and fuel.
This clarification is made just days after a controversy was created after the Government proposed the reduction of more than 4,000 million pesos to the budget of the Ministry of Education (Minerd) so that these are transferred to other state institutions to be “used” in what what remains of the year.
More than RD$135,000 MM to mitigate inflation
On his side, Vicente explained to the media that the budget project has more than RD$135,000 million set aside to help mitigate inflation and maintain the different subsidies.
“This budget incorporates the president’s priorities, perhaps one of the most important is social protection; This budget incorporates some 135,000 million that will be allocated to protect and mitigate inflation.ny the entire issue of the war in Russia and Ukraine, through various subsidy programs, such as you know Supérate; the fuel subsidy that is done weekly,” explained Vicente.
Other details
The minister indicated that it is expected that there will be a deficit of about 3% of the Gross Domestic Product (GDP), which is a reduction of the 3.6% contemplated for the end of 2022. The total expenses contemplated is one trillion 241 billion; and a total of capital investments estimated at one trillion 356 thousand million pesos.
The Budget Law
The Constitution of the Republic establishes that the Executive Branch must submit to the National Congress, no later than October 1 of each year, the General State Budget Bill for the following year. .
